Social Security

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Social Security has been around since 1935 and for generations many Americans have depended on these programs for retirement or in the event of permanent disability. Recent news articles lead Americans to believe that Social Security is in financial trouble that the taxes it depends upon to finance the programs for retirement, disability, and medical care soon will not be enough (Huffington post,2010). In part because of the large numbers of people reaching retirement age, this has left a large number of people wondering if they can depend on Social Security for retirement. The answer to this dilemma is not to rely on Social Security for retirement. Depending on Social Security for retirement is like risking everything on one endeavor. Most likely, retirees will have less money with which to depend. Taxpayers who have paid into the program all of their lives can no longer depend on the funds being available to them in the next 10 years. The Baby Boomers (a group of Americans born between 1946 -1964) will start to reach retirement age in 2008 and peak in 2030 further burdening the program. Americans should not depend on Social security for retirement. Social security may not be available to fund retirement even after years of paying into the program. The fact sheet assembled by the trustees at Social Security states, “The financial condition of the Social Security program remains a challenge. Projected long term program costs are not sustainable under the current program parameters.” “The projected point at which tax revenues will fall below program costs comes in 2010. “ Tax revenues will again exceed the program a year sooner than the estimate in last year’s report” (ssa.gov). I have wondered why they raised the retirement age.... ... middle of paper ... ...cial Security for retirement as a bonus, to be an addition to the financial security that we give to ourselves. Works Cited Retrieved from, http://www.huffingtonpost.com/2010/08/05/medicare-gets-new-lease-o_n_671936.html written by Dan Froomkin on August 14, 2010 Retrieved from, http://www.ssa.gov/pressoffice/pr/trustee10-pr.htm Retrieved from, http://www.nytimes.com/2010/08/15/us/politics/15address.html by Jackie Calmes on August 14, 2010Social Security debate (United States). (2010, August 10). In Wikipedia, The Free Encyclopedia. Retrieved 14:27, August 16, 2010, from retrieved from http://en.wikipedia.org/w/index.php?title=Social_Security_debate_(United_States)&oldid=378265512 Smith, M.. (2010, July). Social Security's Porcupine Politics. In These Times, 34(7), 10-11,5. Retrieved August 21, 2010, from Alt-Press Watch (APW). (Document ID: 2068233881).

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